Shares of biotech company Illumina spiked 8 percent Wednesday after the company handily beat Wall Street estimates a day earlier.
The stock was the second-biggest gainer in the S&P 500, and added the most gains to the S&P health care sector. Shares of the genetic sequencing company traded near $162.03, still lower than their 52-week high of $220.86.
The San Diego-based company earned 86 cents per share in the second quarter, up from 80 cents in the same period last year. Revenue came in at $600 million, up 11 percent year over year, the company said.
Analysts polled by Thomson Reuters had expected earnings of 73 cents per share and sales of $593.21 million.
Guidance was soft for the third quarter though, and Illumina said it expects revenue between $625 million and $630 million, below Thomson Reuters consensus expectations of $632 million.